Halcon Resources Sells Non-Operated Williston Basin Assets for $10m

Source: www.gulfoilandgas.com 9/20/2017, Location: North America

Halcon Resources Corporation (Halcon) has entered into an agreement to sell its remaining non-operated assets in the Williston Basin to a private company for approximately $104 million in cash, subject to customary closing conditions and adjustments. The effective date of the transaction is April 1, 2017 and is expected to close within 60 days. These properties currently produce approximately 1,891 Bbl/d of oil, 1,931 Mcf/d of gas and 65 Bbl/d of natural gas liquids. Separately, in August the Company closed on a ~$6 million cash sale of additional non-operated Williston Basin assets to a different party.

The borrowing base on Halc?n's senior secured revolving credit facility will be reduced to $100 million upon closing of the non-operated asset sale. As indicated in the table below, as of June 30, 2017, Halc?n's liquidity was approximately $773 million pro forma for these asset sales and other previously announced transactions.


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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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